| Oil plays a big role in Kazakhstan. With nearly 40 billion barrels in reserves and 2 percent of global production, the country has the world’s ninth largest proven reserves and is among the 20 largest oil producers.
Kazakhstan’s stabilization fund—the National Fund of the Republic of Kazakhstan—is the cornerstone to managing and preserving the country’s oil wealth. The central bank manages the fund, using it to save the bulk of oil-related fiscal revenues. The government budget is allocated a fixed annual transfer of $8 billion from the fund.............................................Full Article: Source
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